What is the market's earnings forecast for JBS next quarter?

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What is the revenue and EPS growth rate for JBS year over year?

What were the key takeaways from JBS's earnings call?

What factors drove the changes in JBS's revenue and profit?

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What were the key takeaways from JBS’s earnings call?

What is JBS's gross profit margin?

- **Record Results**: Q3 2025 net sales of $22.6 billion, with adjusted EBITDA of $1.8 billion (8.1% margin) and net income of $581 million.
- **Strategic Expansion**: $500-750 million annual revenue from new U.S. pork plants by 2027, targeting higher-margin prepared foods.
- **Resilient Margins**: 24% ROE and 17% ROIC, with leverage at 2.39x, below 2.5x target.
- **Chicken Outlook**: 2026 U.S. market confidence despite Q4 price volatility, driven by constrained supply and new genetics.

**【CEO Summary Section】**
- **Record Performance**: Q3 2025 net sales reached $22.6 billion, with adjusted EBITDA of $1.8 billion (8.1% margin). Net income was $581 million, driven by strong demand across all regions.
- **Regional Highlights**: 
  - **U.S. Beef**: Despite high cattle costs, disciplined execution maintained profitability. Prepared Foods segment sales grew over 25%.
  - **Australia**: Strong margins due to improved cattle availability and global demand.
  - **Brazil**: Consistent performance in export and domestic markets, with Seara launching innovative products like high-protein ready meals.
- **Expansion Plans**: Two new pork plants in Iowa expected to generate $500-750 million in annual revenue by 2027, targeting higher-margin prepared foods.

**【CFO Financial Commentary】**
- **Financial Health**: Return on equity (ROE) of 24%, return on invested capital (ROIC) of 17%, and leverage of 2.39x, within target range.
- **Cash Flow**: Free cash flow of $383 million, driven by EBITDA growth and disciplined capital allocation. Share buyback program completed ($600 million), with $1.2 billion in dividends and CapEx planned for 2025.
- **Debt Management**: Issued $570 million in long-term Brazilian debentures, extending average debt maturity to 15.4 years at 5.6% cost. 2025 leverage expected to stay below 2.5x.

**【Q&A Highlights】**
- **Pork Expansion**: Iowa plants to focus on value-added products, with quick ramp-up due to complementary supply chains. Margins expected in high double digits.
- **Chicken Market**: U.S. prices down in Q4 but stable demand for prepared foods. 2026 outlook positive due to constrained supply and new genetic lines.
- **Working Capital**: $700 million 2026 increase driven by grain and livestock prices. Half from volume growth, half from pricing volatility.
- **M&A Strategy**: No immediate M&A, but flexibility to pursue opportunities if aligned with ratings and capital structure.

JBS N.V.(JBS)-20251114-2025 Q3 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

JBS

JBS fundamentals

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